Boeing, Ryanair Finalize Order for 175 Next-Generation 737s

Boeing (NYSE: BA) and Ryanair today finalized a firm order for 175 Next-Generation 737-800 airplanes valued at $15.6 billion at list prices. The order, originally announced as a commitment in March, is Boeing's largest ever aircraft order from a European airline.

At a signing ceremony today at the 2013 Paris Air Show, Michael O'Leary, president and CEO of Ryanair, joined Ray Conner, Boeing Commercial Airplanes president and CEO, to finalize the historic deal.

O'Leary flew into the air show on one of Ryanair's 303 737-800s, which bore a special livery celebrating the agreement.

"Ryanair is proud to buy Boeing, who make great aircraft, and the 737-800 has been the foundation of Ryanair's recent successful growth due to its great engineering and phenomenal reliability," said O'Leary. "These 175 new airplanes will enable us to lower costs and airfares even further. They provide Ryanair with the additional capacity to exploit substantial growth opportunities that now exist as many of Europe's flag and regional airlines are restructuring and are reducing their short-haul operations."

"We are delighted to finalize this order. It is a testament to the value the Next-Generation 737 family brings to Ryanair," said Conner. "As the most efficient, reliable, large single-aisle airplane flying today, the Next-Generation 737 has been and will continue to be the cornerstone of the Ryanair fleet. I could not be more proud to see the partnership between Ryanair and The Boeing Company extended for the years to come."

The Boeing 737-800 is the best-selling version of the successful Next-Generation 737 family. Known for its reliability, fuel efficiency and economical performance, the Next-Generation 737-800 is selected by leading carriers throughout the world because it provides operators the flexibility to serve a wide range of markets.

Ryanair, which took delivery of its first 737-800 from Boeing in 1999, has the largest fleet of Boeing airplanes in Europe, operating over 1,600 flights per day from 57 bases on 1,600 routes across 29 countries, connecting more than 180 destinations.